Invinity Energy Systems (LON: IES) has launched its next generation flow battery ENDURIUM. This has higher efficiency and is designed to be manufactured in Scotland in high volumes. This new product is likely to be the main source of orders from now on. There are already orders for ENDURIUM. Invinity Energy Systems is expected to move into profit in 2026. The share price jumped 23.4% to 14.5p.
New Technology Capital Group has reduced its stake in data processing semiconductor technology developer Ethernity Networks (LON: ENET) from 16.4% to between 12% and 13%. The stake peaked at 21.6% at the end of October. The share price recovered 10.8% to 0.145p.
Cadence Minerals (LON: KDNC) owns 34.6% of the Amapa iron ore project in Brazil and the updated pre-feasibility study shows that 67.5% iron ore can be produced. This has boosted the NPV10 from $1.2bn to $2bn. Initial capex is expected to be $377m. Zeus estimates that the Amapa project could be worth 42p/share when adjusted for risk. The share price increased 17.4% to 2.7p.
Technology company adviser and investor EMV Capital (LON: EMVC) is raising up to £1.5m at 50p/share, which is a 15% premium to the previous day’s closing price. The share price rose 11.5% to 48.5p. A subscription will raise £880,000. The WRAP retail offer to existing shareholders can raise up to £620,000 and it closes at 4.30pm on 4 December. The minimum subscription is £100. The cash will fund investment in reporting infrastructure and hiring of additional staff. It will also provide money for additional investments. Management is targeting recurring annual fund management fees of more than £1m so that it can reach breakeven. In the ten months to October 2024, core income was £2m, up from £1.2m, including £500,000 of recurring fund management fees. This excludes subsidiary portfolio companies.
FALLERS
United Oil & Gas (LON: UOG) has not received the $620,000 owed following the disposal of Egyptian and discussions continue with EGPC. Costs are being reviewed and they will be reduced to a bare minimum. Talks concerning the farm out in Jamaica have been suspended until the New Year. The share price slumped 34.2% to 0.125p, which is an all time low.
Managed IT services SysGroup (LON: SYS) has been hampered by extended sales cycles and full year results will be below expectations. Interim revenues fell 7% to £10.2m, while the reported loss was £1.09m after exceptional costs of £397,000. No growth in revenues is forecast for the second half. Zeus has cut its 2024-25 pre-tax profit forecast from £900,000 to £100,000, down from £900,000 last year, and next year’s forecast has been slashed from £2.8m to £1.3m. Net cash was £4.6m at the end of March 2025. The share price dived 24.6% to 21.5p.
Kefi Gold and Copper (LON: KEFI) raised £469,000 at 0.55p/share from the PrimaryBid offer, with 90% of subscribers existing shareholders. This takes the total amount raised to £6m and there is an additional share issue in settlement of £4.6m of liabilities. The cash will be spent on the Tulu Kapi gold project. The share price is 20.4% lower at 0.519p.
Wind turbine sensor technology developer Windar Photonics (LON: WPHO) raised £5.9m at 40p/share from an oversubscribed placing. The cash will enable expansion of the management team and provide working capital. The company is transitioning to a recurring revenues model. The placing will use up the remaining EIS/VCT capacity. The share price declined 5.88% to 48p.